Venture Capital Firms Get Behind Google Glass

SAN FRANCISCO (April 10, 2013)—Two influential venture capital firms, Kleiner Perkins Caufield & Byers and Andreessen Horowitz, are teaming up with Google’s venture capital arm to find and finance entrepreneurs to create applications and other accessories for Google Glass, the Internet-connected device that is setting out to turn wearable computing into the latest fashion trend.

The firms are pledging to work together to arrange seed funding ranging from $250,000 to $2 million to support ideas for software and other gear built for Google Glass.

The formation of the "Glass Collective" is likely to heighten the anticipation surrounding Google Glass, which isn't expected to be released on the mass market until next year.

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